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paragraph, the Lessee shall furnish policies insurinq the
• actual replacement costs, said valuation shall be without
deduction or depreciation insofar as such coverage may be
obtainable, and in such case the term "maximum insurable
value" as used herein shall mean the actual replacement cost
. of the property required to be insured without deduction ~
- - for depreciation. ~ _
(1) All insurance required to be carried
shall be effeated under poYicies written in such
form and issued by such companies as shall be approved
by the Lessor, who shall not unreasonably withhold such
approval. All policies shall be for the benefit of the
_ Lessor. and the Lessee as their respective interests ,
may appear, and shall be subject to such provisions
as mortqaqees of the Demised Premises may require.
13o Reconstruction and Re air. Upon the occurrence of any
dataaqe or total or partia estruction to any portion of the Demised
Premises, whether or not the casualty causinq such damage be insured ;
against, and whether or not, if insured, any proceeds are paid in j
. cozu~ection therewith, the foreqoinq provisions shall apply: i
~ a. Lease to Continue. The destruction, alteration,
demolition or non-use or other deterioration in condition
. of the Demised Premises or any portion thereof, regardless of the
nature thereof or events which cause such destruction, alter-
ation, demolition or non-use, except takinq by eminent da~nain,
shall not in any way reduce, abate~or suspend the Lessee's abli- -
.qations and covenants hereunder nor shall the san~e effect a ~
. termination in whole or in part of this Lease. t.
b. Reconstruction and Re air b Lessee. The Lessee,. `
at its expense, s a repair an reconstruct, if necessary, ;
~ any and all improvements, buildinqs and structures damaqed, ~
and shall replace or repair all personal property damaged
~ so as to restore the same into good condition. For the
purposes of this paragraph, as well as when used elsewhere~
in this Aqreement, "qood condition" shall mean the best ~
condition in which it is reasonably possible to replace
the real or personal property involved, Work necessary to
accomplish the replacing or repair of any damaged or
' destroyed improvements~or personal property shall be com- ~
: n?enced no later~ than sixty (60) days after the occurrence
` of damaqe, and shall be completed no later than ten (10) f
i months after date of commencement, provided, however, these
~ ; . ti~ae liuaitations shall be extended by reason of any time =
lost due to an Act of God, war, civil insurrection, strikes
~ or other events over which the Lessee has no control. ~
0
~ c. Plans, S ecifications-and Estimates. Within thirty _
(30) days after the occurrence o damage requirinq replace-
ment or repair of improvements to the Demised Premises,
wherein such replacement or repair requires the issuance of
a building or other permit by and pursuant to the ordinances
of a qovernmental authority, the Lessee shall supply to the
~ Lessor plans and specifications for such reconstruction and
repair. Said plans and specifications shall be prepared by
~ and be under the certificate of an architect licensed to
~ practice in the State of Florida. Within thirty (30) aays ~f
~ thereafter the Lessee shall furnish to the Lessor a copy of
~ a contract executed by an independent, licensed, general
~ contractor wherein the work, labor-and materials inaicated
~ by such plans and specifications are to be furnished .at an
~ agreed price and a performance, coaipletion and payment
bond is provided for.
d.~Proceeds of Tnsurance.
(1) ~ Func~. In th~e event proceeds of insurance
~hall ba pay-6a
3e by. resson of damaqe _and/or total
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